2 months ago
Key Takeaways
- Google genitor Alphabet reports second-quarter net aft nan doorbell Tuesday.
- Analysts expect gross and net to emergence from nan year-ago period.
- The institution will study Google Cloud revenue, pinch investors apt to beryllium watching for sustained growth.
- Alphabet could besides supply updates connected its artificial intelligence initiatives.
Google genitor Alphabet (GOOGL) is group to study second-quarter net aft nan doorbell Tuesday pinch investors apt to beryllium watching for sustained unreality maturation and updates connected artificial intelligence (AI) initiatives.
The tech elephantine is projected to study gross of $84.3 billion, according to estimates compiled by Visible Alpha, representing a 13% emergence complete nan year-ago period. Net income is expected to travel successful astatine $23 billion, aliases $1.85 per share, an summation from nan 2nd 4th of 2023.
| Analyst Estimates for Q2 2024 | Q1 2024 | Q2 2023 | |
| Revenue | $84.3 billion | $80.54 billion | $74.6 billion |
| Diluted Earnings Per Share | $1.85 | $1.89 | $1.44 |
| Net Income | $23 billion | $23.66 billion | $18.37 billion |
Key Metric: Cloud Growth
Investors will apt watch for sustained maturation successful Google Cloud, arsenic nan unreality conception gross could thief easiness investor concerns astir large tech's increased spending to put successful AI.
Analysts expect unreality gross of $10.22 billion, according to statement estimates from Visible Alpha, representing maturation from nan 4th anterior and nan year-ago period.
Business Spotlight: AI Impact
The institution could supply investors pinch updates connected projects for illustration its AI assistants, Gemini Live and Project Astra, which could thief Alphabet compete pinch Microsoft-backed (MSFT) OpenAI. Alphabet whitethorn connection insights into really AI Overview is affecting Google Search.
It mightiness besides connection discourse astir its liking successful dealmaking. The institution is reportedly successful talks pinch cybersecurity startup Wiz to get it successful a woody worthy astir $23 billion. If nan woody goes through, it would beryllium nan largest acquisition nan tech elephantine has ever made. Google was besides precocious linked pinch a imaginable acquisition of HubSpot (HUBS), though it has reportedly moved on.
Alphabet shares person gained astir 30% since nan commencement of nan year, astatine $178.43 arsenic of 11:45 a.m. ET Friday.
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